HK50: Short position moves down low

Basic analysis:

Hong Kong Hang Seng Index closed down 214.68 points, or 1.18%, at 17933.27 on September 23 (Friday); The interest rate hike depressed the performance of the financial market, and Hong Kong stocks fell again. The Hang Seng Technology Index fell 1.18% below 18000 points and continued to refresh and adjust the low price. The Hang Seng Technology Index fell 2.29%, and the loss of 3600 points also set a stage low price. The decline of large science and technology stocks not only put pressure on the market, but also eased the European Union's restrictions on Russian coal. The coal sector was among the top losers, with the net inflow of funds from the south against the trend of HK $3.595 billion and the turnover in the market of HK $80.8 billion.

Hang Seng Index HK50 4 Hour Chart

Technical analysis:

The 4-hour chart shows that the bearish weakness has a good downward trend, the short-term decline has not stopped, the market bearish mood is good, the MACD indicator is in the bearish area and continues to move downward, while the RSI indicator is in the bearish area to maintain consolidation;

Empty turning point: 18033

Pressing position: 18239, 18467

Support position: 17722, 17530

Trading strategy: 18033 lower bearish, target 17722, 17530

Alternative strategy: bullish above 18033, target 18239, 18467